NNPC Ltd Faces Financial Strain Due to PMS Supply Costs, Impacting Supply Sustainability

NNPC Ltd said it has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.

The Corporations’ Chief Corporate Communications Officer Mr. Olufemi Soneye in a press statement he signed and made available to Business247 News on Sunday, explained: “This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.

“In line with the Petroleum Industry Act (PIA), NNPC Ltd remains dedicated to its role as the supplier of last resort, ensuring national energy security.

“We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.”